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"Tashir Group is the largest private investor in Armenia" - Narek Karapetyan

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30.05.2024

"In his speech at the inaugural Armenian Business Forum, the President of the Tashir Group of Companies, Samvel Karapetyan, presented the Group’s investment plans for the next five years. It has been 2.5 years since the event, and we are now in the final phase of bringing these projects to life.


MANUFACTURING


Over the past 15 years, the most ambitious project in Armenia's heavy industry has been the launch of the T-METAL metallurgical plant. Spanning around 20 hectares of production and storage facilities, it connects to Armenia's railway, which in turn links to the main Georgian seaport of Poti.


The plant’s nominal production capacity is 150,000 tons of liquid steel, addressing not only the country's steel deficit but also enabling exports. This is a significant leap forward for Armenia’s economy, expected to spur growth across the entire industrial sector.


The total investment in production amounts to USD 80 million.


Last year, we launched another pivotal enterprise, the AMPER power transformer production. We can now confidently say that 90% of this complex equipment’s domestic consumption is met by Armenian manufacturers. Plans include further expansion and technical upgrades of the plant, aiming to penetrate neighboring markets with high-voltage eco-friendly transformers.


Additionally, we commenced the creation of the region’s first copper electrolytic refining plant and started our own aluminum production.


ENERGY


In the energy sector, I will start with the project to construct a new thermal power plant in the city of Razdan. The old CoP had an efficiency of 33% and did not meet current standards and technologies. In collaboration with leading global companies, we began building a new CoP utilizing the most modern solutions, expecting a 50% increase in efficiency.


SEVAN-HRAZDAN CASCADE


We are also undertaking a long-term project to enhance Armenia’s energy security until 2033. The Sevan-Hrazdan Cascade, operational since 1962, is a strategically important facility for energy supply and irrigation in the Ararat Valley. Despite its significance, it was in critical condition, prompting Tashir Group of Companies to initiate a major modernization of its 200 MW capacity in 2021.


To date, USD 29 million has been invested, with an additional USD 120 million planned by 2033.


ELECTRICAL NETWORKS OF ARMENIA


We continue to implement a 10-year investment program in Armenia’s electrical networks. During this period, the country’s electrical infrastructure has been modernized, with new substations built and smart systems for electricity control and accounting implemented. Today, the level of losses in distribution networks is comparable to the best international standards in this field.


Since 2016, a total of USD 653 million has been invested in Armenia’s electrical networks, with plans to continue investing over USD 100 million annually.


LIGHT INDUSTRY


We have achieved excellent results in the light industry as well.


During this period, the production capacity of the TASHIR KAR textile factory was doubled, fulfilling an important social function by providing employment to 300 residents of the Lori region.


Our second textile factory, AniTex, has also seen a 50% increase in productivity due to new equipment.


TOURISM


We have not overlooked the tourism sector in Armenia, focusing on developing regional tourism. Recently, a new hotel, the Old Ijevan Hotel, opened in the city of Ijevan, and another hotel is under construction in the city of Tashir, scheduled to be ready to receive guests by September.


CIRCUS


Active construction work is underway at the Yerevan Circus. Upon opening, it is expected to amaze both residents and visitors to Armenia. Without revealing too many details, it will be unique in many technical aspects, not only for Armenia but for the entire CIS region. The opening is planned for June next year.


CORPORATE RESPONSIBILITY AND CHARITY


In addition to investing in Armenia’s commercial sector, the Tashir Group of Companies prioritizes social responsibility.


Since 2021, we have been overseeing the reconstruction of 146 damaged and destroyed homes in the village of Sotk, Gegharkunik region. The main work has been completed and will be finished by the end of the year.


We also did not remain indifferent to the events of September last year in Artsakh. The Tashir Group of Companies has fully supported several thousand displaced Artsakh residents, and assistance continues to this day. " - Narek Karapetyan, First Vice President of the Tashir Group of Companies